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Devon Energy (DVN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw Devon Energy (DVN - Free Report) ending at $48.79, denoting a -0.53% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.42%.
The oil and gas exploration company's shares have seen an increase of 11.91% over the last month, surpassing the Oils-Energy sector's gain of 6.42% and the S&P 500's gain of 2.67%.
Analysts and investors alike will be keeping a close eye on the performance of Devon Energy in its upcoming earnings disclosure. The company is expected to report EPS of $1.11, down 23.97% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $3.58 billion, reflecting a 6.26% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.83 per share and revenue of $14.87 billion, which would represent changes of -15.41% and -2.55%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Devon Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 9.51% lower within the past month. Devon Energy presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Devon Energy is at present trading with a Forward P/E ratio of 10.15. This denotes a discount relative to the industry's average Forward P/E of 11.11.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Devon Energy (DVN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Devon Energy (DVN - Free Report) ending at $48.79, denoting a -0.53% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.42%.
The oil and gas exploration company's shares have seen an increase of 11.91% over the last month, surpassing the Oils-Energy sector's gain of 6.42% and the S&P 500's gain of 2.67%.
Analysts and investors alike will be keeping a close eye on the performance of Devon Energy in its upcoming earnings disclosure. The company is expected to report EPS of $1.11, down 23.97% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $3.58 billion, reflecting a 6.26% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.83 per share and revenue of $14.87 billion, which would represent changes of -15.41% and -2.55%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Devon Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 9.51% lower within the past month. Devon Energy presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Devon Energy is at present trading with a Forward P/E ratio of 10.15. This denotes a discount relative to the industry's average Forward P/E of 11.11.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.